Bank of America/FIA Stuck at 33% Settlement Offer

It is a great offer! Be careful because boa does sell these. Depending on your assets, a collection agent could sue you for it all or insist on 50%.

Have you told BOA about your financial situation? I think you can tell them that you're ready with $10k and see if they agree to settle. BOA has settled at 20-25% as well. So, you can try your luck and close the account as soon as possible.

Dantheman, thanks for the heads-up. My intention is to settle with BOA or if they sell it a CA. I've settled with CA's before and hope to avoid a lawsuit.

Paul:

Yes, I told them my situation and offered $10,000. They told me the least they could accept was $15,000 and would not budge. I've called them twice in the last couple of weeks and received the same answer. The account is already closed and charged-off.

Thanks to both of you for the responses.

Did you call the FIA Senior Accounts number....I had little luck until someone posted that number....it's floating about here somewhere....then i got real nice people to work with and settled at 25-27%......Post if you cannot find it okay?

Good thought! Here is the posting:

FIA Card service Strategic Senior Account Manager at 1.866-429-1097

I think Ben put this on up. Anyway, it works for some and others it does not but surely worth a shot.

dtm

Thanks for the number. Yes I called but the Senior Account managers can only work with you before charge-off. Mine has been charged off for months, so they transferred me to recovery dept.

That's the number. FIA will transfer charge off account's to recovery who will then transfer / sell it to debt buyer. Keep in mind the junk debt buyer will now own the debt who may sue or not sue. Most will sue .

thanks Dan....and thanks for remembering it was Ben!!! Ben, that number saved me....up until then....we called BOA and we had so many different settlement offers and none of them were any good until we used this number....the gal was the best...I really could not have asked for a nicer person....and so I settled BOA first...Ben thanks to you and this forum..they were the first I settled with and we got between 25-27%!!! that gave me the courage to proceed....the FIA senior accounts does a better job than if you just call BOA!!! good luck and thanks again all
debtor in CA

Yes. Very true. I know a name of account manager who I have settle large amount of debt for. I also know she will get you the best deal. If you need her name send me a pm or email me.

I will provide her name with one condition that you not tell her that Ben told you to call.

Please review my other post about important contacts if your in state of arizona.
Good luck.

BOA/FIA still owns the account, even though it's been charged-off. It is in their recovery department, so the Senior accounts number does not work for my account. I called the special number and was told "I can't help you" and then was transferred over to recovery.

Still trying to get below 33%.

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Wow I can't believe they still own it that is good. Ours was just charged off last month and they sold it to a CA who has had an attorney's office call us. You just never know I guess.

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Yes . Welcome, I would very much appreciate her name and number if you could private message me by clicking "Send message to French" on the left of this message.

I understand you asked for us to private message you or send you an email, however your account is not setup with any public contact information.

Thanks!

Kaylee here and I also would like a PM of the #. I also will not mention your name.

thanks so much, it is my last card to settle. But they don't even call me and my balance is the largest of any of my other cards, double my others, it is 40k.
I have 2 letters and one nice phone message just yesterday. I'm just over 90 days. Citi and Chase called me multiple times a day.
Thanks so much,
Kaylee

Ben told me to call.

Her name is Michelle Mendoza. (Nice gal )

call 866-833-6398 they can get it settled for 20-30 cents on the dollar.

This forum and other forum on BOA and discover has loads of info.
Thanks everybody who have shared their info. I have 80K in total debt spread over 5 ccs(BOA, Citi, chase, discover, amex). missed last month's payments on all ccs..say 50 days. How long do guys think i should wait for a settlement offer. Citi is offering lower payment options but nothing on settlement...

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I would call 866-833-6398 they got me a settlement at 20 cents on the dollar with BOA.